AutoCanada (TSE:ACQ) Price Target Raised to C$36.00

Key Points

• Equities research analysts at National Bankshares have raised their target price for AutoCanada from C$28.00 to C$36.00, indicating a potential upside of 13.53% from the current stock price.
• Several other analysts have also increased their price targets, with BMO Capital Markets setting a new target at C$40.00 and Canaccord Genuity raising theirs to C$28.00.
• The consensus rating for AutoCanada stock is currently "Moderate Buy", with five analysts giving a hold rating, four a buy rating, and one a strong buy rating.

AutoCanada (TSE:ACQ - Get Free Report) had its target price hoisted by equities research analysts at National Bankshares from C$28.00 to C$36.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bankshares' target price points to a potential upside of 13.53% from the stock's current price.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group lifted their price objective on AutoCanada from C$24.00 to C$28.00 and gave the company a "buy" rating in a research report on Monday, July 14th. BMO Capital Markets upgraded AutoCanada from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from C$20.00 to C$40.00 in a research report on Thursday. Royal Bank Of Canada boosted their target price on AutoCanada from C$18.00 to C$27.00 in a research report on Tuesday, July 22nd. Cibc World Mkts upgraded AutoCanada from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, CIBC boosted their target price on AutoCanada from C$23.00 to C$27.50 in a research report on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$29.58.

AutoCanada Price Performance

ACQ traded up C$2.48 during trading on Thursday, hitting C$31.71. The company's stock had a trading volume of 166,261 shares, compared to its average volume of 27,808. The firm's 50 day moving average price is C$24.63 and its two-hundred day moving average price is C$20.07. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 451.54. AutoCanada has a 12 month low of C$13.75 and a 12 month high of C$33.87. The stock has a market capitalization of C$737.94 million, a price-to-earnings ratio of -14.63, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54.

Insider Activity at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. bought 4,880 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was purchased at an average cost of C$19.78 per share, with a total value of C$96,548.36. Insiders acquired 88,280 shares of company stock worth $1,809,060 over the last ninety days. 4.90% of the stock is owned by insiders.

About AutoCanada

AutoCanada Inc operates car dealerships in Canada. The company offers new and used vehicles, spare parts, maintenance services, and customer financing. AutoCanada retails brands such as Chrysler, Dodge, Jeep, Ram, Cadillac, Chevrolet, Buick, GMC, Audi, Volkswagen, BMW, Mini, Infiniti, Nissan, Hyundai, Kia, Fiat, Mitsubishi, and Subaru.

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